ArrowMark Financial Corp. (NASDAQ:BANX) Short Interest Up 87.0% in June

ArrowMark Financial Corp. (NASDAQ:BANX) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,300 shares, a growth of 87.0% from the May 31st total of 2,300 shares. Based on an average daily trading volume, of 16,200 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On ArrowMark Financial

Several institutional investors have recently bought and sold shares of BANX. Raymond James Financial Services Advisors Inc. increased its position in ArrowMark Financial by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 229,144 shares of the investment management company’s stock worth $4,353,000 after buying an additional 7,110 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in ArrowMark Financial by 4.0% in the 4th quarter. Capital Investment Advisors LLC now owns 32,250 shares of the investment management company’s stock worth $586,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in ArrowMark Financial in the 1st quarter valued at about $340,000. Hedge funds and other institutional investors own 24.93% of the company’s stock.

ArrowMark Financial Stock Performance

BANX stock traded down $0.02 during mid-day trading on Friday, hitting $18.44. The company had a trading volume of 44,826 shares, compared to its average volume of 18,504. ArrowMark Financial has a 12 month low of $16.07 and a 12 month high of $19.50. The stock’s fifty day moving average price is $18.38 and its two-hundred day moving average price is $18.44.

ArrowMark Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were issued a $0.45 dividend. The ex-dividend date was Monday, June 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.76%.

ArrowMark Financial Company Profile

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.